LotsCap

Economy Profile

Mobile County

  • Alabama State
  • October, 2024
TSAC-CFD-01097

Table of Content

Snapshot

-

GDP (2022, Thousands)
$ 26292053
AVG Real Growth (2017-2022)
2.14 %
Unemployment Rate (May, 2024)
3.6 %
Labor Force Size
191485
Number of Businesses
12012
Average Annual Wage
$ 59220

Economy Structure

Population & Household section gives reader an outlook. of general population profile, structure, and outlook.

GDP

GDP (2022, Thousands)
$ 26292053
GDP Per Capita
$ 63526
GDP Growth Rate (2022)
2.4 %
Average Growth Rate (2017-2022)
2.14 %
Goods Producing Contribution (%)
27.8%
Service Providing Contribution (%)
61%
Goverment Contribution
11.2%
GDP Historical Growth Rate
Source: Bureau of Economic Analysis | CAGDP2, CAGDP11
GDP by Sectors
Source: Bureau of Economic Analysis | CAGDP2, CAGDP11
GDP Growth by Sectors
Source: Bureau of Economic Analysis | CAGDP11

Monthly Employment

Total Labor Force
191485
Labor Force Growth
0.8%
Unemployment
6945
Unemployment Rate
3.6%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
67.1%
Employment Rate (with Bachelor's Degree)
83.6%
Employment Rate (75+ y.o.)
6.2%
Employment Rate (Black)
50.6%
Employment Rate (Female)
62.7%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
12012
Number of Employment
171453
Annual Average Wages
$ 59220
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 77440
Service-providing (avg pay)
$ 54242
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 55352
Household Income (Median)
$ 75532
Per Capita Income
$ 30482
Per Capita Income Growth (2010-2022)
41.5 %
Gini Index
0.4694*
Poverty Rate
17.6 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov